Gold prices in Pakistan saw a significant decline on Friday, falling by thousands of rupees after a two-day upward trend in both local and international markets.

According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold dropped by Rs5,000 per tola, bringing the new rate to Rs351,000.

The price of 10 grams of gold also decreased by Rs4,287 and now stands at Rs300,925.

Silver prices also fell in the domestic market. The per tola rate of silver dropped by Rs9 to Rs3,790, while the price of 10 grams slipped by Rs8 to Rs3,249.

In the international market, gold became cheaper by $53 per ounce, bringing the global rate down to $3,290. Meanwhile, silver prices declined by $0.09 per ounce to settle at $36.06.